Day after day we hit new bottom with small corrections between. This way, slowly, we are building a triangle pattern. One of patterns I really like. Everyone knows them, easy to spot, easy to play. So people play it. And magic happen.
Currently we are really close to an exit, during which I predict a volume and volatility spike. If we take a look at RSI, we see that with new bottoms, RSI is higher. Positive divergence that prefers long side of the market.
TRX long when we leave triangle
SL - below candle that break pattern
TP - at Kumo
Long term perspective:
For long term I'm using my beloved old Japanese technique Ichimoku. And here I have bad news - Ichimoku creates a lot of signals (more on that here - http://www.ichimokutrader.com/signals.html ), but all of them are currently negative. Long, medium and short term trend is bearish. Deal with it. Maybe triangle will change it, but we have to wait till pattern is filled. Then we will see how situation unfolds.